Last Friday was the second time in the past eight days in which investors managed to escape a nightmare. The market shrugged off ill tidings of a disappointing July jobs report: the nightmare never came.
We may be losing interest in newspapers but our fascination with the people who publish them has never been stronger. Our current dread-and-awe buccaneer is Rupert Murdoch, The Man Who Owns the News, according to a recent bio.
Previous arms-control treaties were big news. Take all the coverage we just had over the health reform debate, and multiply that by about 10, and that's something like how big the news of this sort of thing used to be. Now, not so much.